Theranos Founder, Elizabeth Holmes, Barred From Running Lab for Two Years

July 8, 2016 10:07 AM

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Theranos Founder, Elizabeth Holmes, Barred From Running Lab for Two Years

United States regulators have banned Elizabeth Holmes, the chief executive of Theranos, from owning or operating a medical laboratory for at least two years, in a major setback for the embattled blood-testing start-up and its once widely lauded founder.

In a statement late Thursday, Theranos said the regulators will revoke the certification of its Newark, Calif., laboratory and forbid the laboratory from taking Medicare and Medicaid payments for its services. Regulators will also levy a monetary penalty that Theranos did not specify.

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